Lanza techVentures, an early stage venture capital firm, made the investment. In conjunction with the funding, Lucio Lanza, managing director of Lanza, will become a member of the Plunify board. Mark Templeton, partner-at-large at Lanza techVentures, will be an advisor.

The company intends to use the funds to grow sales and technical support channels and expand its marketing team.

Led by Harnhua Ng, chief executive officer, Plunify provides InTime™ timing closure acceleration software for FPGA designs. It analyzes a design and determines the best synthesis and place-and-route optimization strategies, considering correlations between the design structure, FPGA resources and user specified design constraints. The tool uses a variety of big data techniques to solve FPGA timing and optimization problems, and employs statistical modeling and machine learning to draw insights from the data to improve the quality of results.